July 2021

The Panoply acquires Digital Services agency Nudge Digital

ABOUT THE PANOPLY GROUP

The Panoply is a world-class creative technology group, assembled for innovation. Configured as a lean, fluid and ego-free family of complementary tech-focused companies, they collaborate with brave organisations to ensure their participation in tomorrow, and beyond. The Panoply floated on the AIM index of the London Stock Exchange in December 2018, creating a group of digitally-native technology services companies assembled to meet the needs of the fourth industrial revolution.

 

ABOUT NUDGE DIGITAL

Nudge Digital is a digital services agency which delivers strategy-led services primarily to the pharmaceutical industry, health sector and, more recently, to local authorities, with a particular focus around care pathways.

Founded in 2006 by CEO Luke Aikman, Nudge provides strategic consultancy and digital execution on mission-critical services, from global pharmaceutical projects to the software underpinning social housing and social care. Since its founding, Nudge has built up a strong client base including major pharmaceutical companies Roche and Galderma, private healthcare provider Bupa as well as the Greater London Authority, Hackney and Westminster councils.

 

ABOUT THE DEAL

The Acquisition is strategically important to The Panoply and strengthens its overall position in healthcare and, importantly, provides an entry into the pharmaceutical industry at a time when the NHS is looking at precision medicine, risk stratification and data-driven personalised care plans for patients.

Nudge has achieved significant revenue growth over the last two years of 151% and delivered revenues of £2.7m, adjusted EBITDA of £1.0m and adjusted profit after tax of £0.9m for the year ended 31 March 2021 (all unaudited). Nudge enters the group with a booked backlog of £2.5m for FY22.

The Panoply is paying a total consideration of £5.0m with £1.75m being satisfied in cash and £3.25m by the issue of new ordinary shares.

 

OUR WORK

We acted as financial adviser to The Panoply on their acquisition of Nudge Digital.

"

It is a pleasure to have WY Partners as our key buy-side M&A advisor. WY’s market knowledge and support is invaluable, they show great commitment and enthusiasm to always deliver the best outcome. WY provide us with clear commercial advice, added value, and manage the process from start to finish. Their personal and pragmatic approach is always appreciated and they consistently overdeliver.

Neal Gandhi, Chief Executive Officer of The Panoply

Stay in touch

Sign up for our newsletter to stay up to date on news from WY partners.

Name*
In submitting your personal data via this form, you agree to our privacy policy.